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Released May 27, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Energy Information Administration (EIA) revised lower its forecast for petroleum consumption in India, after India's rapid growth in COVID-19 cases spurred travel restrictions that reduced its consumption of gasoline and diesel.
The EIA estimates that petroleum consumption in India fell by 400,000 barrels per day (BBL/d), or 8%, to 4.7 million BBL/d between March and April. India's consumption data, released after the EIA's publication of its May Short-Term Energy Outlook (STEO), revealed a similar decline of 300,000 BBL/d, or 6%, over the same period.
Gasoline and diesel consumption declined in April, reflecting the growth in COVID-19 cases and the country's responses to limit its spread.
"Reduced travel in India will likely continue, so we also revised down petroleum consumption in May and June from the April STEO," the EIA said. "We expect India's consumption of petroleum and other liquids will return to previously forecast levels by July."
Falling demand in India has implications for the global petroleum market. India is the world's third-largest consumer of oil, according to the STEO.
The travel restrictions in India have impacted a number of refineries:
The EIA estimates that petroleum consumption in India fell by 400,000 barrels per day (BBL/d), or 8%, to 4.7 million BBL/d between March and April. India's consumption data, released after the EIA's publication of its May Short-Term Energy Outlook (STEO), revealed a similar decline of 300,000 BBL/d, or 6%, over the same period.
Gasoline and diesel consumption declined in April, reflecting the growth in COVID-19 cases and the country's responses to limit its spread.
"Reduced travel in India will likely continue, so we also revised down petroleum consumption in May and June from the April STEO," the EIA said. "We expect India's consumption of petroleum and other liquids will return to previously forecast levels by July."
Falling demand in India has implications for the global petroleum market. India is the world's third-largest consumer of oil, according to the STEO.
The travel restrictions in India have impacted a number of refineries:
- Reliance Industries Limited (RIL) (Mumbai, India) rescheduled a 30-day planned turnaround of the 47,000-BBL/d Kerosene Hydrotreater Unit at its 660,000-BBL/d Jamnagar Domestic Tariff Area Refinery. The turnaround, which had been planned from June 1, is expected to begin August 2.
- Earlier this month, Mangalore Refinery and Petrochemicals Limited (MRPL) delayed the restart of its 96,000-BBL/d Crude Distillation Unit (CDU) 1 at its 300,000-BBL/d Mangalore Refinery. The unit tentatively was expected to restart by May 31.
- Bharat Petroleum Corporation Limited (BPCL) was forced to de-rate its 240,000-BBL/d Mumbai Refinery by 10% earlier this month.
